Question: You will need to use the 2018 Tax Table from the class website. Assume you were born after 1950, you are not blind and no


You will need to use the 2018 Tax Table from the class website. Assume you were born after 1950, you are not blind and no one else can claim you as a dependent. Adjusted Gross Income (AGI) = Wages + interest Taxable income = AGI - standard individual deduction ($12,000) #1. Your W-2 form reports that your total wages were $35,539 for 2018. Your W-2 form also reports that $4,053 was withheld from your wages for federal income tax. You receive a 1099- INT from your bank that indicated interest earned of $281. You are single and not claimed by any other person as a dependent. 1. How much is your adjusted gross income? 2. How much is your taxable income? 3. What is your total tax for the year? 4. What is the amount of your payment or refund? 35,000 35,000 35,050 35,100 35,150 35,200 35,050 35,100 35,150 35,200 35,250 4,013 4,019 4,025 4,031 4,037 3,822 3,828 3,834 13,840 3,846 4,013 4,019 4,025 4,031 4,037 3,931 3,937 3,943 3,949 3,955 35,250 35,300 35,350 35,400 35,450 35,300 35,350 35,400 35,450 35,500 4,043 4,049 4,055 4,061 4,067 3,852 3,858 3,864 3,870 3,876 4,043 4,049 4,055 4,061 4,067 3,961 3,967 3,973 3,979 3,985 35,500 35,550 35,600 35,650 35,700 35,550 35,600 35,650 35,700 35,750 4,073 4,079 4,085 4,091 4,097 3.882 3,888 3,894 3,900 3,906 4,073 4,079 4,085 4,091 4,097 3,991 3,997 4,003 4,009 4,015 35,750 35,800 35,850 35,900 35,950 35,800 35,850 35,900 35,950 36,000 4,103 4,109 4,115 4,121 4,127 3,912 3,918 3,924 3,930 3,936 4,103 4, 109 4,115 4,121 4,127 4,021 4,027 4,033 4,039 4,045
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